#Supertech Housing Scheme Noida

[miglaniorg]

Exploring Builders in Noida for 3 BHK Flats in Greater Noida and Noida Extension

Noida, an acronym for New Okhla Industrial Development Authority, has emerged as one of the most sought-after real estate destinations in the National Capital Region (NCR). With its well-planned infrastructure, excellent connectivity, and a plethora of residential and commercial projects, Noida is attracting homebuyers and investors alike. The city’s development is closely tied to the efforts of numerous reputable builders who have transformed it into a modern urban hub. Among the various offerings, 3 BHK flats in Greater Noida and 3 BHK flats in Noida Extension have become particularly popular due to their spacious layouts, modern amenities, and strategic locations.

Builders in Noida are known for their commitment to quality construction, timely delivery, and innovative design. Some of the most prominent names in the industry include Supertech, Amrapali, Gaursons, Jaypee, and ATS Greens. These builders have a proven track record of developing residential complexes that cater to the diverse needs of homebuyers, ranging from affordable housing to luxurious villas.

One of the key areas under development is Greater Noida, which has seen a surge in demand for residential properties. The availability of 3 BHK flats in Greater Noida is particularly appealing to families looking for a blend of space and modern living. Greater Noida is known for its wide roads, green spaces, and a well-thought-out urban plan. It is also home to several educational institutions, healthcare facilities, and shopping centers, making it an ideal place for families.

The 3 BHK flats in Greater Noida offer a comfortable living experience with ample space, typically ranging from 1,300 to 2,000 square feet. These flats are designed to provide a balance of functionality and aesthetics, with well-ventilated rooms, modern kitchens, and spacious balconies. Builders often include amenities like clubhouses, swimming pools, gyms, and children’s play areas within these residential complexes, ensuring that residents have access to a holistic lifestyle.

Noida Extension, also known as Greater Noida West, is another hotspot for residential development. The demand for 3 BHK flats in Noida Extension has been on the rise due to the area’s affordable pricing compared to other parts of NCR, coupled with its rapid infrastructure development. Noida Extension is well-connected to Noida, Greater Noida, and Delhi via a network of expressways and metro lines, making daily commutes hassle-free.

The 3 BHK flats in Noida Extension are designed to meet the needs of modern families. These flats are often part of large gated communities that offer a range of facilities such as landscaped gardens, jogging tracks, sports courts, and multipurpose halls. The builders focus on creating a safe and vibrant community environment, which is particularly appealing to young families and working professionals.

Apart from the residential benefits, investing in a 3 BHK flat in Greater Noida or Noida Extension also presents a lucrative opportunity from an investment perspective. The property prices in these areas have shown a consistent upward trend, driven by the ongoing development projects and the increasing demand for quality housing. Moreover, the planned commercial hubs and IT parks in the vicinity are likely to boost the real estate value further in the coming years.

Builders in Noida are also paying attention to sustainable development practices. Many new projects incorporate eco-friendly features such as rainwater harvesting systems, solar panels, and energy-efficient appliances. This focus on sustainability not only helps in conserving the environment but also reduces the overall maintenance costs for residents.

In terms of financing, buying a 3 BHK flat in Greater Noida or Noida Extension has been made easier with the availability of various home loan schemes offered by leading banks and financial institutions. Builders often tie up with these institutions to provide attractive payment plans and interest rates, making homeownership more accessible to a wider audience.

To summarize, the builders in Noida have played a pivotal role in shaping the city’s real estate landscape. Their projects in Greater Noida and Noida Extension, particularly the 3 BHK flats, offer a perfect combination of modern amenities, strategic location, and investment potential. Whether you are looking for a place to call home or a sound investment opportunity, these areas provide ample options to suit your needs. With continuous infrastructure development and a focus on quality construction, Noida is set to remain a top choice for homebuyers and investors in the years to come.

Read More: https://www.miglani.org/

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[vistaspr22]

SuperWreck

Supertech Limited is a real estate development company which was founded in 1988 in the National Capital Region (Delhi NCR) of India, and has built several multi-utility projects in the cities of New Delhi, Noida, Meerut, Haridwar and Bengaluru. The company boasts a variety of malls, hotels, residential complexes, apartments and offices as a part of its massive portfolio of over 50 completed projects, having served over 60,000 customers in its lifetime.

However, while these numbers may depict excellence, the reality is to the contrary. The company has developed into an epicentre of controversy over the last decade. The various stakeholders of the company could be proud of all the publicity it receives, only if it weren’t all harshly negative. Two major causes of the bad press are its multiple defaults on loan repayments, and most recently, the legal battle over its Twin Towers.

In August 2013, it was reported that Supertech had reached out to several banks to borrow loans of around INR 350 crores, out of which INR 150 crores were lent by the Union Bank of India. After reaching an agreement over repayment conditions of principal and interest, Supertech is reported to have repeatedly defaulted on its payment obligations towards the Union Bank of India, with the dues having amounted to INR 432 crores in 2019. The bank approached the National Company Law Tribunal (NCLT), which served a notice to the company for failure of repayment. Despite the notice, the company continued to dishonour its obligations. Later, in 2020, the company announced that it was seeking to borrow INR 1,200 crore from the Central Government’s Stress Fund, in order to complete its 12 ongoing housing projects in Noida and Greater Noida, but failed to settle its dues with the bank. In March 2021, after having studied the matter, the NCLT, after having received a complaint from the bank, declared Supertech to be insolvent and started bankruptcy proceedings against the company.

Supertech managed to save itself, however, as it approached the National Company Law Appellate Tribunal (NCLAT). Instead of determining the entire company to be insolvent, the NCLAT applied its Corporate Insolvency Resolution Process (CIRP) only on one of Supertech’s projects (named Eco Village). Such an action was undertaken to protect the interest of over 25,000 homebuyers, who were sceptical of the continuation of housing projects if the entire company was put under CIRP.

In the backdrop of the bankruptcy situation, several reports emerged describing the extreme displeasure of homebuyers over Supertech’s false promises. Dipanshu Wahi, a Supertech homebuyer, in an interview with The Quint, said:

“I booked my flat in 2017 at Supertech Hilltown in Gurugram and the possession was due in 2019. I booked it under the subvention scheme when all the major banks were financing it. In the subvention scheme, you pay some amount and till the possession, the interest of the loan amount sanctioned is paid by the builder to the bank. This is all documented in the tripartite agreement between the builder, the bank, and the homebuyer.

Supertech started dishonouring all the clauses we had in our agreement. They stopped paying the due interest to the bank so the banks started demanding the pre-EMIs as well. And since the homebuyer had taken the loan, we were being forced to pay that as well. Otherwise, we were levied with huge penalties. And now see what happened. Supertech has lost the case in NCLT against Union Bank of India for the default on the loan.

Last year, we filed an FIR against Supertech at the Economic Offence Wing in Delhi and we are also fighting the case against the company over the delays in the delivery of our flat.”

However, the company became the centre of attention due to the matter of one of its majestic projects: the Supertech Twin Towers. The Supertech towers were demolished in August 2022, after a Supreme Court (SC) a year earlier cited its illegal construction. In its verdict, the SC pointed out multiple instances wherein the builders colluded with officials in authority in Noida to build the structure in violation of building codes.

The 'Supertech Emerald Court' housing society was supposed to be built in Sector 93A in 2004/ 2015 in Noida. In 2005, Noida authorities had sanctioned building plans for 14 towers with nine floors each. However, the plans were later revised and the new design had twin towers with 40 floors each. After this, the Emerald Court Residents’ Welfare Association moved to the Allahabad High Court alleging that it was an illegal construction. In its 2014 and 2021 judgements, SC upheld that it was an illegal structure that violated fire safety norms, building codes and minimum distance requirements. It also said the new building plan which constructed the two towers Apex and Ceyane by removing the garden area shown to homebuyers in the brochure without the consent of the flat owners. An investigation has been opened against Supertech Limited and the Noida Authority for collusion and violations of construction norms. Cases have been registered against 31 individuals from the two organisations.

As a result, on the 28th of August, 2022, in a matter of 12 seconds, the towers (which were taller than the Qutub Minar) became dust after the usage of 3,700 kg of explosives. The expenses of the demolition and its clean-up were to be borne by the builder, and all Twin Tower homebuyers were to be refunded their payments, with an annual interest of 12% per annum since the date of their booking. In addition, the Emerald Court RWA was to be compensated with INR 2 crore for the mental agony faced. This imposed a further payment burden on the company of well over INR 1,000 crores, which forced the company to sell two of its malls and two of its other project assets.

Task at Hand:

Now, the million-dollar question (quite literally) is how would the 2 acres of land of the former Supertech Twin Towers be put to use once the debris is cleared. The Emerald Court RWA has strongly suggested the construction of garden spaces as promised, or the creation of a temple. However, Supertech contends that the 2 acres had already been allotted to the company for development purposes by the Noida Authority, and hence wants to build a new housing project on this land. The RWA has stated that any proposal to build another Supertech project will be immediately rejected by the body.

In the context of such a strong refusal, and the various controversies surrounding the company, you, as the Public Relations Advisory of Supertech Limited, are required to reverse public opinion and concerns of various stakeholders, in order to gather support for the construction of the new housing project. For this objective, you are required to submit the following deliverables:

1)     Executive Summary

2)     Defence Strategies

3)     PR Strategies

4)     Strategies to Gain Consent of the RWA

5)     Strategies to Convince Sceptical Homebuyers

6)     Strategies to Settle Creditors and Attract Investors

7)     Press Release

You are required to submit a PDF report to vistaspr22@gmail.com by 8 AM on Wednesday, the 28th of September, 2022.

For any doubts regarding the round, contact Anmol (+91 63624 21887) by 12 AM tomorrow.

[bigyack-com]

Builders explore eligibility options to avail of stress fund after interest waiver by UP govt - real estate

The Uttar Pradesh government’s move to offer interest and penalty waiver to builders may enable many developers to come out of defaulters’ list and seek stress fund offered by the finance ministry, UP government officials said.The State Bank of India Capital managing director and chief executive officer Sanjiv Chadha, along with other top officials of the finance department and economic affairs, explained to builders how they can seek stress fund and deliver flats without further delay. Top officials of the Noida authority, Greater Noida authority and the Yamuna Expressway Industrial Development Authority also put forth financial issues they have with housing projects.“Many housing projects, which are in financial distress, can become eligible to get the stress fund once they get interest and penalty waiver under the UP government’s scheme. In the next 2 months, many builders can seek funds after their project comes out of defaulter builder category,” Alok Tandon, UP industrial development commissioner and chairman of Noida, Greater Noida and YEIDA, said after attending the meeting.At least 25 housing projects, including those of Logix, Supertech, Valuent, AIMS Max Gardenia and Antriksh, among others, are already (without seeking any interest waiver) eligible to get the last mile funding. As per the announcement of the ministry of finance, the stress fund is to be given to housing projects that fulfil certain conditions — project should be registered under RERA, must have been stuck due to fund crisis, has to be affordable or middle income category project, builder net worth should be positive, project must be in final phase of completion, housing unit’s carpet area should not be more than 200 square metres, and apartment cost should not exceed Rs 1.5 crore. The maximum funding a project can get is Rs 400 crore.The Noida, Greater Noida and YEIDA CEOs said a part of the funds released to builders should be given to them as most builders are yet to clear their land dues.“We gave a suggestion that SBI Capital should keep in mind our dues while sanctioning stress fund so that we can collect land dues. If the dues are not settled, we cannot issue an occupancy certificate to a housing project,” Ritu Maheshwari, Noida authority CEO, said.SBI Capital and the officials of the finance department are yet to lay down the guidelines under which the applications of builders will be assessed before granting them stress fund. SBI Capital sought suggestions from the builders and authority officials on this.Confederation of Real Estate Developers Association of India, a builder lobbying group, also took part in the meeting. “SBI Capital has put a condition that once the project is finished and delivered, the company will be the first one to collect its dues. Only then the builder can pay money to the Noida authority or other banks. We have suggested that the stress fund should be used first for construction and delivery of flats. Once the developer clears SBI Capital’s loan, only then will payments be made to the others,” Prashant Tiwari, president, Western UP wing of CREDAI, said. Read the full article

[realestateofindia]

http://propshop.org.in/supertech-housing-scheme.php

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[sourabhvashistha]

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[futureplansnews]

Supertech Shaan Pradhan Mantri Awas Yojana (PMAY) Greater Noida

Supertech Shaan Pradhan Mantri Awas Yojana (PMAY) Greater Noida

As we know that Pradhan Mantri Awas Yojana (PMAY) is the most awaited scheme of the central government. In order to support this ambitious scheme, India’s leading real estate Company Supertech has come up with its new affordable housing project named ‘Supertech Shaan‘ in Greater Noida at Yamuna Expressway. (more…)

[nitinic-blog]

Supertech Shaan - An Affordable Housing Project At Yamuna Expressway.

Supertech Shaan in Yamuna Expressway is an affordable home which has been launched under the scheme of Pradhan Mantri Awas Yojana. The project is near F1 track, is the ideal destination for your promising destination. The project offers ample of world - class amenities like well equipped gymnasium, swimming pool, car parking, sewage treatment plan, earthquake resistant, rainwater harvesting, gated society, 24x7 security, 24x7 water supply, high - end lift, spacious staircase, proper sunlight, cross ventilation and many more.

USP of Supertech Shaan

Located at a Yamuna Expressway, Close proximity to F1 Track, Night Safari.

Main access through a wide road of the city.

Nearby Gaur Yamuna City, with planned Metro Station.

Prompt access to South Delhi, Ghaziabad and Noida.

Hassle-free parking for buyers.

Near by city Railway Station and bus stand.

Pari Chowk Greater Noida and bus terminus in vicinity.

Located in the Residential hub Center of Noida.

[proshopdilafroz-blog]

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